General Motors Co. and South Korea’s Hyundai Motor Co. have entered a pact to potentially deepen their strategic relationship by co-developing vehicles. The agreement includes exploring the joint development and production of gas-powered engines, electric, and hydrogen powertrains. GM and Hyundai will also work on procuring parts, sourcing raw materials, and driving cost efficiencies. This collaboration aims to address the increasing competition in the global automotive market, especially from low-cost Chinese rivals, and the rising investments in gas-fueled and electric vehicles. The partnership is set to enable both companies to pool resources for more efficient capital spending and manufacturing operations worldwide. While the deal doesn't specify any commitments yet, it signifies a step towards potential binding agreements in the future. GM and Hyundai highlighted the synergies between their strengths and talented teams, aiming to deliver more competitive vehicles to customers quicker and more efficiently. Hyundai, despite struggles in certain markets like China, has been expanding globally, while GM has been restructuring its operations to regain market share. This partnership could offer GM the scale economies it seeks after reducing its global footprint in recent years. Overall, the sentiment of the article towards the GM-Hyundai partnership is positive, emphasizing mutual benefits and enhanced competitiveness.